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How do contractors know when to record a sale for 72A/IFF reporting purposes?

For IFF purposes, GSA recognizes a sale recorded in a manner consistent with the contractor’s accounting system. This method minimizes the administrative burden on contractors.

Clause 552.238-74 specifies the following acceptable points at which contractors may report sales:

(1) receipt of order;

(2) shipment or delivery, as applicable;

(3) issuance of an invoice; or

(4) payment. Any contractor that changes accounting and reporting practices, however, should notify the applicable ACO.

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